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Muthoot Finance shares jump over 7% on strong Q3 results; NIM at 17.1% highest in 12 quarters

February 17, 2020February 17, 2020 Loknath Das

Shares of Muthoot Finance ltd jumped over 7 percent on Monday, buoyed by a strong third quarter performance. The gold finance company’s shares quoted at Rs 792.35 apiece, up 6.3 percent on BSE at 9.36 am. The stock opened at Rs 774, up over 3.5 percent from its Friday’s close of Rs 746.60. The stock surged to a new 52-week high of Rs 801.70 per share. So far this year, the stock has gained nearly 3 percent, while the one year return on the stock is more than 50 percent…

The impact LiFi will have on technology

February 11, 2020February 11, 2020 Loknath Das

Our increasingly connected world is in the midst of a huge problem: a rapidly growing number of users, devices and services competing for a limited radio frequency (RF) spectrum. The issue is that this spectrum, which includes 3G, 4G, 5G, WiFi and Bluetooth, is a finite resource, with analysts anticipating that it will cover only 5% of capacity demand in the coming years. ABOUT THE AUTHOR Alistair Banham is CEO at pureLiFi. Cue ‘LiFi’, a technology that uses part of the visible light portion of the electromagnetic spectrum to transmit information at very high…

Venkaiah Naidu nominates Manmohan Singh to parliamentary standing committee on finance

November 12, 2019November 12, 2019 Loknath Das

Manmohan Singh was the country’s finance minister between 1991 and 1996. (Photo: PTI) Rajya Sabha Chairman Venkaiah Naidu has nominated Former Prime Minister and senior Congress leader Manmohan Singh to the parliamentary standing committee on finance in place of party colleague Digvijaya Singh. Digvijaya Singh has now been nominated to the parliamentary standing committee on urban development by the chairman of the Upper House, according to a Rajya Sabha bulletin. “The Rajya Sabha chairman has nominated Manmohan Singh, member, Rajya Sabha, to be a member of the committee on finance…

Finance Minister Nirmala Sitharaman to Meet CEOs of Public Sector Banks on October 14

October 11, 2019October 11, 2019 Loknath Das

New Delhi: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) next week to discuss various issues, including progress on credit offtake. The meeting, scheduled to be held on October 14, is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said. Banks are expected to present report card on partial credit guarantee scheme and fund raising from market to enhance their capital base. The Centre in August issued guidelines on operationalising Rs 1 lakh crore…

Indiabulls Housing Finance share price falls 38% on concerns over merger with Lakshmi Vilas Bank

October 1, 2019October 1, 2019 Loknath Das

The share price of Indiabulls Housing Finance Ltd (IBHFL) crashed nearly 38% intraday to hit a fresh 52-week low today after Reserve Bank of India put private sector lender Lakshmi Vilas Bank under its prompt corrective action (PCA) plan. The development places the prospects of their prolonged merger into jeopardy. Indiabulls Housing Finance stock opened today with a loss of 6.79% to Rs 363, also its day’s high. Later, the stock crashed 37.8% and touched an intraday low as well as fresh 52-week low of Rs 240.10, against the last…

Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year

June 11, 2019 Loknath Das

NEW DELHI: Withdrawing a cumulative ₹10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory. In its push towards a digital economy, the central government is thinking of introducing a tax of 3-5 per cent on cash withdrawal of ₹10 lakh in a year, a move to discourage cash usage in the economy and resultant black money. Paying ₹30,000-50,000 for ₹10 lakh annual withdrawal will be seen as a loss, the…

Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year

June 11, 2019 Loknath Das

British Airways passenger forced to travel on seat covered in dried vomit

June 8, 2019 Loknath Das

After the carrier failed to issue an apology the man shared the photo on Twitter. A British Airways (BA) business class passenger was left feeling ‘disgusted’ when he had to travel in a 10-hour flight on a seat plastered in vomit. Dave Gildea, vice-president of a software company in San Francisco was travelling from London to Seattle when he reportedly upgraded to business class at Heathrow Airport. However, instead of having a comfortable experience, he was dismayed to see vomit all around his designated seat. The 38-year-old man said when…

PM Modi, Ministers spend Rs 393 cr on foreign, domestic travel in 5 years

May 11, 2019 Loknath Das

A Right to Information (RTI) query has revealed that Prime Minister Narendra Modi and his Council of Ministers incurred an expenditure of Rs 393 crore on foreign and domestic travel in last five fiscal years. City-based RTI activist Anil Galgali had filed an RTI query with the PMO seeking the total Foreign Travel Expenses (FTE) and Domestic Travel Expenses (DTE) incurred by the Prime Minister and his council since May 2014. In December 2018, the Modi government, replying to queries on foreign travel expenses in Rajya Sabha, had said that…

Student discounts you can get on holiday travel and at tourist destinations

April 16, 2019 Loknath Das

Book flights and hotels in advance, travel in the shoulder season and take the DIY approach. We are all familiar with such travel tips to keep our vacation budgets under control. However, there’s more money to be saved during family holidays if you have a school or college-going child. You can grab student discounts on entry fees to heritage sites and airfare. Then there are additional benefits like special travel cards that are designed exclusively for students. These discounts should not be confused with concessions that are offered to children in general.…